Phantom Options?

[Captron]

:whoopie: HAPPY NEW YEAR!

Can someone please clarify what Phantom Options are? I get the concept but would like to know if they are a one time thing or if they recur annually and what it takes to get them from the developer. What amounts are/have been given for what kind of purchase?

I would also like some advice. This is my Star Option situation currently:
SVR Cascades L/O 90,000 Options
SBP L/O 81,000
SVR Fountains II 2BR 76,000
Total: 247,000 Star Options

My goal: 49,200 more Options needed to book two 148,100 units) (148,100x2=296,200 - 247000= 49200)
I also would not mind achieving **** Elite - need 112,000 more options (although this is VERY secondary and not a short term priority at all, if it even is long term)

ANY suggestions on the best way to get there? I am bottom trolling the after market but would consider upgrading current unit or buying AM then retroing in with another smaller purchase or upgrade.
[Out of compliance statement removed. - DeniseM Moderator]
Thanks

 

[LisaRex]

My understanding of phantom options is that they are used as a sales incentive if, when you purchase from the developer, you are a few thousand StarOptions short of achieving the next elite level. They throw in phantom options to get you to that plateau, but you can't use them for any other purpose, such as exchanging within SVN.

 

[Captron]

Thanks Lisa. That helps with that part.

 

[DeniseM]

ANY suggestions on the best way to get there? I am bottom trolling the after market but would consider upgrading current unit or buying AM then retroing in with another smaller purchase or Thanks

Hi - In Owner Resources, at the top of the board, there is a long article with a lot of information about requalifying and reaching Elite Status. Note that it was written before Starwood increased the requirements.

Also - you may not solicit TS purchases in the forums, so I removed that line from your post.

 

[SDKath]

Hi there,

Essentially, phantom SOs are useless except to get you to the next level if you are close to either 3* or 5*. THey can gift you up to 30,000 SOs for free during your purchase and you must have it in writing (there is a special piece of paper for this). However, you don't actually have those SOs to use ever. You can't book units with them and you can't convert to SPs.

In essence, they just lower the bar to get to another elite lever by a few thousand SPs when someone is close enough.

In addition, in order to get them, you have to own a NON-STARWOOD timeshare! You need to fax Starwood your deed so that they give you "credit" for this other timeshare. Marriott, DVC, etc all count. I believe you can only get them once for the 3* and once if you buy again to get to 5*. Not sure why they don't do it for 4*.

Katherine

 

[Captron]

Thanks ALL!!!

Denise, I did read all 5 pages of SDK's path. Thanks for the suggestion.
(My hand has been appropriately smacked, it won't happen again.)

Kath, awesome summary and subsequent discussion. (All 5 pages of posts)

Thank you all for your help. I have been doing this for a while but have learned lots here.

MY PATH: I originally bought SBP LO pre construction for ~12k then bought Courts resale for 3k. I uprgeded the courts to 2 EOY cascades LO saving ~15k. Then when I bought EOY PGA 2BR and retroed both cascades weeks and the EY SBP LO into SVN. Don't ask me how, but when I called SVO they said only 1 per but the sales guy had it on the contract so I got it. I have since upgraded PGA into Fountains II for one of those cheap units everyone talked about in the thread. SVO said sales pays ~$1000 for the retro. Thought this might help someone down the road.

 

[tlpnet]

In addition, in order to get them, you have to own a NON-STARWOOD timeshare! You need to fax Starwood your deed so that they give you "credit" for this other timeshare. Marriott, DVC, etc all count. I believe you can only get them once for the 3* and once if you buy again to get to 5*. Not sure why they don't do it for 4*.

I'm pretty sure (but not 100% certain) that the unit you use to get the phantom options can be Starwood, just as long as it's not participating in SVN. If you read the SVN Elite Qualification Credits form, I believe it says something like ownership not participating in SVN. I've put my Starwood resales on the form when I've filled it out in the past (several times), and it's always been accepted.

-tim

 

[clsmit]

When we were at Harborside in August they were willing to give us 30K phantom options to get us from 3* to 5* (as part of retroing a resale and buying something big from them). We don't own any other TS's besides Starwood, so perhaps the sales managers have some leeway in this to get the sale done.